Smartplanet highlights smart grid technology in Morning Briefing
SUBNET Solutions Inc | July 13, 2012
In Smartplanet's Morning Briefing on July 12, 2012, the e-magazine highlighted the amount of attention smart grid technology has received lately, and the most important events that are going on in the North American smart grid industry.
According to the news source, news of increasingly large and important smart grid deployments is everywhere these days, which could influence the amount of investments the sector will receive in the near future.
A recent report from Global Data found that smart grid growth in Canada and the United States will result in much more investments in renewable energy, as smart grid technologies will help these intermittent energy sources, such as wind and solar, become better integrated with the power grid. In Canada, the smart grid is expected to grow to be as much as 20 percent larger by 2020.
In the U.S., more companies are seeing the smart grid as an opportunity to introduce more renewable sources to their power supply, according to Clean Energy Authority.
"The key motivations behind the smart grid investments in the US are reducing dependence on imported crude and reviving the national economy," wrote Global Data analyst Megha Tayal Narang. "The smart grid growth in Europe, on the contrary, is being driven by the goal to reach emission reduction targets laid down by European Union as the 20-20-20 Targets."
What's more, although the U.S. smart grid has seen huge growth in the last 10 years, it still has ample room to expand.
"It is unlikely that the US market for smart grid technologies will experience saturation in the next five-ten years," Narang added. "The market will continue to grow at least until 2030 when the US Department of Energy expects the smart grid to become functional."
The Morning Brief also noted the importance of the smart grid in keeping the power on after powerful storms mangle the energy network as was seen in the recent storms that ripped through the Midwest and Mid-Atlantic region.
According to Government Computer News, in late June, the storms knocked out power to more than 5 million customers in six states. With weather experts predicting climate change will only make the current anomalous weather patterns more pronounced, the smart grid will provide opportunities for utilities to keep power flowing to their customers.
As the smart grid grows, a larger number of utilities are turning to SUBNET products to manage their wide enterprises of intelligent electronic devices and data on substation automation.
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